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Australia cuts minerals and energy export revenue fcast
September 17, 2012 / 11:28 PM / 5 years ago

Australia cuts minerals and energy export revenue fcast

CANBERRA, Sept 18 (Reuters) - Australia cut its minerals and energy export revenue forecasts by 9 percent for the current year on Tuesday, a further sign the country’s resources sector is losing steam as a slowdown in top customer China drives down commodity prices.

Australia expects export revenues to total A$190 billion ($200 billion) in the year to June 30, 2013, down from a June forecast of A$209 billion Resources Minister Martin Fergusson told a minerals and energy conference.

“Although this is not good news, it is by no means a death knell for the Australian resources industry,” Fergusson said.

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